Bill H.R. 302 - The BUILD Act

The Better Utilization of Investments Leading to Development Act of 2018, or BUILD Act establishes a new U.S. development agency, the U.S. International Development Finance Corporation (USIDFC). This agency merges the pre-existing development agency, OPIC, with USAID's Development Credit Authority. The purpose of the new agency is to mobilize and facilitate private sector investment in less developed countries (and, under certain circumstances, to upper-middle income countries) and to advance the foreign policy interests of the United States. 
Under Title II of the Act, the USIDFC may support projects through loans, guarantees and equity investments, issue insurance and reinsurance, provide technical assistance, and increase the ability to take smart risks through local currency loans, first loss guarantees and small grants. The Act creates a preference for U.S. investors, rather than the requirement. 
The development agency supports a wide variety of projects, including those related to renewable energy and critical mineral supply for the energy transition. 

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